New Delhi [India], Oct. 23 (ANI): A leading solar EPC company in India, Rays Power Infra, has announced its Power Purchase Agreement (PPA) with Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for the development of 100 MW through solar power solutions in Tamil Nadu. The new infrastructure and sub-station connections built by the company will prevent grid outages.
This project will provide power at an attractive rate of Rs. 3.47 per unit to TANGEDCO. This is part of the 15,000 MW, INR 11,369 crore inter-state power corridor promoted by the Government of India that is expected to be ready by May 2019.
The set-up will ensure a robust renewable energy evacuation network and is expected to remove any potential problems in the power grid of the region.
The project shall also be connected to a 400 kV substation to ensure that there are no grid outages.
"Tamil Nadu is an increasingly important market, especially given the level of interest and support for renewable energy projects in the region. Signing this PPA is a watershed moment for us, as it will help us tap into the existing solar potential of the state, while making use of the best of our innovative technology and our skilled manpower," said Chief Executive Officer, Rays Power Infra, Ketan Mehta.
On the completion of this project, Rays Power Infra will greatly increase its total portfolio of commissioned projects to over 500 MW in India, and will make substantial progress in meeting its target of generating 300 MW of power through its solar power projects in the next financial year.
Rays Power Infra continues to use its extensive project experience and industry-leading technical expertise to provide innovative, eco-friendly, and cost-effective solar power technology driven solutions to its customers. (ANI)